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Gross Domestic Product (GDP) in the Organisation for Economic Co-operation and Development (OECD) area rose by +0.7% in the second quarter of 2010, the same rate as in the previous quarter.Real GDP grew by +1% in both the Euro area (EA16) and the whole European Union (EU27) driven by record growth of 2.2% in Germany, its highest rate since reunification.
GDP growth was +1.1% in the UK, up from +0.3% in the previous quarter. GDP growth was +0.6% in France, up from +0.2% and +0.4% in Italy, unchanged from the previous quarter.
By contrast, GDP growth in Japan and the United States slowed to 0.1% and 0.6% respectively, compared with 1.1% and 0.9% in the previous quarter.
Relative to a year earlier, GDP in the OECD area expanded by +2.8%, up from 2.4% in the previous quarter. Germany at +3.7% had the highest rate and Italy (+1.1%) the lowest.